2015 Honda Odyssey Lease Questions

jimsnaps

Okay great! That's good news, mainly I was worried about if I was even in a decent range. This forum rocks as always!

blkvogl

Incentives this month got better. Money factor 0.00056 if you put money down, 0.00046 if $0 down. I just closed on an Elite lease this past Sunday. Dealer shaved off $6k from MSRP w/ the 0.00046 @12k mi/yr. Forget the exact figure but drive off was under $500.

meegwell01

Hi all,

I've been email shopping with 4 dealerships for a 2015 EX-L w/o Nav or RES. I am in central VA (tax 4.05% I believe). What I am doing is negotiating on price, then I will select and go in to do a lease (is this plan ok?).

Can someone help out with what my lease payment should be on my best offer:

MSRP: $36,655
Dealer Price: $29,986
Accessories: $587 (roof rack and rails)
Tax: 4.05%
Mileage: 12k (also interested in 15k)
Term: 36 Month
Processing Fee: $499
Destiantion: $850
Title/Tags (~) $100
$0 Down

I am assuming .00046 MF and 57% residual ?

I am going to send a "give me your final and best" email then make a choice. I want to be confident of what the monthly payment should be before going in.


Thanks and let me know if any other info is needed.

rcld3

Is this a good deal on EX model w MSRP 32275 in KY? Dealer to pay last five payments of current lease (total $1540), They say this is 550 below invoice, payment $399/ mo on 12k/36m lease? 0 down, we pay 1st mo payment. 6% tax included.

rcld3

To add to above post: I don't know the RV amount.

Michaell

meegwell01 said:

Hi all,

I've been email shopping with 4 dealerships for a 2015 EX-L w/o Nav or RES. I am in central VA (tax 4.05% I believe). What I am doing is negotiating on price, then I will select and go in to do a lease (is this plan ok?).

Can someone help out with what my lease payment should be on my best offer:

MSRP: $36,655
Dealer Price: $29,986
Accessories: $587 (roof rack and rails)
Tax: 4.05%
Mileage: 12k (also interested in 15k)
Term: 36 Month
Processing Fee: $499
Destiantion: $850
Title/Tags (~) $100
$0 Down

I am assuming .00046 MF and 57% residual ?

I am going to send a "give me your final and best" email then make a choice. I want to be confident of what the monthly payment should be before going in.


Thanks and let me know if any other info is needed.

If this is a true $0 down "sign and drive" then the .00046 MF applies; otherwise, it's .00056.

Yes, negotiate the best selling price and make sure they don't slip in any hidden fees. That will get you the best payment.

With your MSRP and Dealer Price, I get a pre-tax payment of $275.98/mo.

Michaell

rcld3 said:

Is this a good deal on EX model w MSRP 32275 in KY? Dealer to pay last five payments of current lease (total $1540), They say this is 550 below invoice, payment $399/ mo on 12k/36m lease? 0 down, we pay 1st mo payment. 6% tax included.

rcld3 said:

To add to above post: I don't know the RV amount.

57% residual for 36/12. .00056 MF.

What are you trading in? You may have more equity beyond the remaining payments. Find out the current payoff and then head over to the "Real World Trade in Values" discussion for a good appraisal of the trade value. Dealer is confusing you by combining the trade and the lease of the new car.

Also, what is the selling price?

rcld3

Michaell said:

rcld3 said:

Is this a good deal on EX model w MSRP 32275 in KY? Dealer to pay last five payments of current lease (total $1540), They say this is 550 below invoice, payment $399/ mo on 12k/36m lease? 0 down, we pay 1st mo payment. 6% tax included.

rcld3 said:

To add to above post: I don't know the RV amount.

57% residual for 36/12. .00056 MF.

What are you trading in? You may have more equity beyond the remaining payments. Find out the current payoff and then head over to the "Real World Trade in Values" discussion for a good appraisal of the trade value. Dealer is confusing you by combining the trade and the lease of the new car.

Also, what is the selling price?

Thanks. Looks like trade in value is about 1700 less than current payoff. Payoff is 15,300 before March Payment, Trade in 13,630. It is a 2012 Accord SE w about 37K miles and is a lease which matures in August. Regarding Sales price: was not disclosed in the email....he just said that this was $550 below invoice. I am assuming RV at 18380 (MSRP *0.57). If I plug this these numbers to your lease payment calculator the payment comes in the ball park with a sales price in the 29700 range. That is just my best way to guess where they are starting. I would like to get the payment closer to the 350 range if that is reasonable. Thoughts?

Michaell

rcld3 said:

Michaell said:

rcld3 said:

Is this a good deal on EX model w MSRP 32275 in KY? Dealer to pay last five payments of current lease (total $1540), They say this is 550 below invoice, payment $399/ mo on 12k/36m lease? 0 down, we pay 1st mo payment. 6% tax included.

rcld3 said:

To add to above post: I don't know the RV amount.

57% residual for 36/12. .00056 MF.

What are you trading in? You may have more equity beyond the remaining payments. Find out the current payoff and then head over to the "Real World Trade in Values" discussion for a good appraisal of the trade value. Dealer is confusing you by combining the trade and the lease of the new car.

Also, what is the selling price?

Thanks. Looks like trade in value is about 1700 less than current payoff. Payoff is 15,300 before March Payment, Trade in 13,630. It is a 2012 Accord SE w about 37K miles and is a lease which matures in August. Regarding Sales price: was not disclosed in the email....he just said that this was $550 below invoice. I am assuming RV at 18380 (MSRP *0.57). If I plug this these numbers to your lease payment calculator the payment comes in the ball park with a sales price in the 29700 range. That is just my best way to guess where they are starting. I would like to get the payment closer to the 350 range if that is reasonable. Thoughts?

On a 36 month lease, every $1000 you save on the selling price results in about $28/mo off the payment. If you didn't have the negative equity in your trade, you'd be very close to the $350/mo target.

usna

Hi All,
On a Lease Quote I received the interest is quoted as below
TermI 36 Ratek 0.00056
What the person told me is this relates to just 3 times interest. i.e. 1.68%.
But based on the Monthly numbers I received the interest when I calculated comes much higher. Can someone help me how this "Ratek 0.00056" translates to interest or APR?
Thanks

usna

Details: This is for EX-L with Navi, Sale Price 35254, MSRP 38655. In CA.
5K Down. Residual 55% (21260.35). Monthly Base 327.22, Monthly Tax 26.18, Monthly Payment 353.46.
Looks to me some thing else is rolled in since the total payments is not really adding up based on interest mentioned.
Thanks for the help in understanding this Ratek 0.00056.
I also understand by going through the forum now that for lease it is best to put close to zero down.. Thanks,

Michaell

usna said:

Details: This is for EX-L with Navi, Sale Price 35254, MSRP 38655. In CA.
5K Down. Residual 55% (21260.35). Monthly Base 327.22, Monthly Tax 26.18, Monthly Payment 353.46.
Looks to me some thing else is rolled in since the total payments is not really adding up based on interest mentioned.
Thanks for the help in understanding this Ratek 0.00056.
I also understand by going through the forum now that for lease it is best to put close to zero down.. Thanks,

Correct - we do not recommend making a down payment on a lease. If the car is stolen or totaled, you lose the money.

With the numbers you have provided, I get a pre-tax payment of $419.80/mo for 36 months.

usna

Thanks for the response. The pre-tax payment quote that I got was 327.22 for 35 months. (This was with the 5000 down). With MSRP 38655, Sale Price 35254, 5000 down and Ratek 0.00056, what should be the pre-tax monthly payment (if no other cost is rolled-in).

kyfdx

usna said:

Thanks for the response. The pre-tax payment quote that I got was 327.22 for 35 months. (This was with the 5000 down). With MSRP 38655, Sale Price 35254, 5000 down and Ratek 0.00056, what should be the pre-tax monthly payment (if no other cost is rolled-in).

If all of your $5000 goes to CAP reduction, the pre-tax payment would be $279/mo., assuming 36mo, 12K/yr

usna

Thank you. The pre-tax quote that I got was 327.22 for 35 months. 12k/yr.
What else could be then rolled into the loan? When I asked they said there is nothing else in the loan? If you could give some pointers I can check with the dealer if they have included those items. Since the pre-tax quote I got is higher I am assuming the 5000 may not be applied to CAP reduction but something else.

Michaell

usna said:

Thank you. The pre-tax quote that I got was 327.22 for 35 months. 12k/yr.
What else could be then rolled into the loan? When I asked they said there is nothing else in the loan? If you could give some pointers I can check with the dealer if they have included those items. Since the pre-tax quote I got is higher I am assuming the 5000 may not be applied to CAP reduction but something else.

Acquisition fee, dealer fee, tags/license costs from the state.

Ask them for the net capitalized cost and a breakdown of how they arrived at that number.

usna

Sure. thank you.

mjnado1

My wife and I have been in the market for a minivan for quite sometime now. I took her to a Toyota and Honda dealer to check out the Sienna and Odyssey to test drive and check out each vehicle. It was a toss up between the Sienna SE and the Odyssey EX-L. I emailed every Toyota and Honda dealer between Naples and Jacksonville, Florida. 100+ emails and 3 days later I received the following offer that we just signed on:

2015 Odyssey EX-L in Smokey Topaz and Truffle interior
15,000 miles per year
36 month lease

$36,655.00 - MSRP
$880.00 - Destination and Handling
$549.00 - Splash Guard Set
$499.00 - Trunk tray
$349.00 - Wheel locks
$299.00 - Nitrogen
$399.00 - Window tint
$39,630.00 - Total listed on Monroney sticker

Buyers Order
$32,367.58 - Subtotal Purchase Price
$18,000.00 - 2014 Camry trade in
$20,036.14 - 2014 Camry payoff
$699.00 - Predelivery
$89.95 - Electronic Registration Fee
$1.50 - Battery fee
$5.00 - Tire fee
$59.89 - 6% sales tax
$2.00 - Lemon law
$210.00 - Title, registration, and license fee transfer
$35,471.06 - Total sale price
$496.14 - Total out of pocket
$34,974.92 - Balance on delivery

Lease Agreement
$747.93 - Dealer ADMIN Charge + tax
$308.45 - Upfront fees
$10.96 - Upfront taxes
$1031.19 - Dealer contribution
$496.14 - Total out of pocket

$34,998.72 - Gross Cap Cost
$20,644.25 - Residual
.00055 - Money Factor
$1,121.76 - Rent charge

$429.90 - Base monthly payment
$30.09 - 7% sales tax
$459.99 - 35 remaining monthly payments

Most dealers were only offering me between $16,500 to $17,000 for my 2014 Camry, but this dealer gave me $18,000.

Michaell

mjnado1 said:

My wife and I have been in the market for a minivan for quite sometime now. I took her to a Toyota and Honda dealer to check out the Sienna and Odyssey to test drive and check out each vehicle. It was a toss up between the Sienna SE and the Odyssey EX-L. I emailed every Toyota and Honda dealer between Naples and Jacksonville, Florida. 100+ emails and 3 days later I received the following offer that we just signed on:

2015 Odyssey EX-L in Smokey Topaz and Truffle interior
15,000 miles per year
36 month lease

$36,655.00 - MSRP
$880.00 - Destination and Handling
$549.00 - Splash Guard Set
$499.00 - Trunk tray
$349.00 - Wheel locks
$299.00 - Nitrogen
$399.00 - Window tint
$39,630.00 - Total listed on Monroney sticker

Buyers Order
$32,367.58 - Subtotal Purchase Price
$18,000.00 - 2014 Camry trade in
$20,036.14 - 2014 Camry payoff
$699.00 - Predelivery
$89.95 - Electronic Registration Fee
$1.50 - Battery fee
$5.00 - Tire fee
$59.89 - 6% sales tax
$2.00 - Lemon law
$210.00 - Title, registration, and license fee transfer
$35,471.06 - Total sale price
$496.14 - Total out of pocket
$34,974.92 - Balance on delivery

Lease Agreement
$747.93 - Dealer ADMIN Charge + tax
$308.45 - Upfront fees
$10.96 - Upfront taxes
$1031.19 - Dealer contribution
$496.14 - Total out of pocket

$34,998.72 - Gross Cap Cost
$20,644.25 - Residual
.00055 - Money Factor
$1,121.76 - Rent charge

$429.90 - Base monthly payment
$30.09 - 7% sales tax
$459.99 - 35 remaining monthly payments

Most dealers were only offering me between $16,500 to $17,000 for my 2014 Camry, but this dealer gave me $18,000.

Congratulations - enjoy your new Odyssey!

And thank you so much for the detailed breakdown of your deal. I'm sure it will be very helpful to others.

mjnado1

I researched so much on here so I am just giving back.  I was even referred to a dealer by a friend and they were $20 plus more a month even after I told them what the other dealer was given me the Odyssey for per month.   I really feel I received the best deal within a two hour drive of me. Opinions are greatly appreciated. 

meegwell01

Michaell said:

meegwell01 said:

Hi all,

I've been email shopping with 4 dealerships for a 2015 EX-L w/o Nav or RES. I am in central VA (tax 4.05% I believe). What I am doing is negotiating on price, then I will select and go in to do a lease (is this plan ok?).

Can someone help out with what my lease payment should be on my best offer:

MSRP: $36,655
Dealer Price: $29,986
Accessories: $587 (roof rack and rails)
Tax: 4.05%
Mileage: 12k (also interested in 15k)
Term: 36 Month
Processing Fee: $499
Destiantion: $850
Title/Tags (~) $100
$0 Down

I am assuming .00046 MF and 57% residual ?

I am going to send a "give me your final and best" email then make a choice. I want to be confident of what the monthly payment should be before going in.


Thanks and let me know if any other info is needed.

If this is a true $0 down "sign and drive" then the .00046 MF applies; otherwise, it's .00056.

Yes, negotiate the best selling price and make sure they don't slip in any hidden fees. That will get you the best payment.

With your MSRP and Dealer Price, I get a pre-tax payment of $275.98/mo.

Thanks much. I guess I need to understand the calculation better. To make things easier I am assuming no tax for now (as you did with a "pre tax" number) here are my numbers from my spreadsheet, where am I going wrong?

1 MSRP 36,655.00
2 Sale Price 30,576.00
3 Tax Rate - 0
4 Tax Base 32,025.00
5 After Tax Price (gross cap) 32,025.00
6 Fees in Finance 1,449.00 (destiantion, process, tags)
7 Cap Adjustments -
8 Adjusted Cap: 32,025.00
9 Residual Factor: 0.57
10 Residual Value: 20,893.35
11 Term: 36.00
12 Base Rate: 0.00046
13 Interest: 24.34
14 Depreciation: 309.21 ((adjusted cap - residual)/term)
15 monthly Payment 333.55

Michaell

meegwell01 said:

Michaell said:

meegwell01 said:

Hi all,

I've been email shopping with 4 dealerships for a 2015 EX-L w/o Nav or RES. I am in central VA (tax 4.05% I believe). What I am doing is negotiating on price, then I will select and go in to do a lease (is this plan ok?).

Can someone help out with what my lease payment should be on my best offer:

MSRP: $36,655
Dealer Price: $29,986
Accessories: $587 (roof rack and rails)
Tax: 4.05%
Mileage: 12k (also interested in 15k)
Term: 36 Month
Processing Fee: $499
Destiantion: $850
Title/Tags (~) $100
$0 Down

I am assuming .00046 MF and 57% residual ?

I am going to send a "give me your final and best" email then make a choice. I want to be confident of what the monthly payment should be before going in.


Thanks and let me know if any other info is needed.

If this is a true $0 down "sign and drive" then the .00046 MF applies; otherwise, it's .00056.

Yes, negotiate the best selling price and make sure they don't slip in any hidden fees. That will get you the best payment.

With your MSRP and Dealer Price, I get a pre-tax payment of $275.98/mo.

Thanks much. I guess I need to understand the calculation better. To make things easier I am assuming no tax for now (as you did with a "pre tax" number) here are my numbers from my spreadsheet, where am I going wrong?

1 MSRP 36,655.00
2 Sale Price 30,576.00
3 Tax Rate - 0
4 Tax Base 32,025.00
5 After Tax Price (gross cap) 32,025.00
6 Fees in Finance 1,449.00 (destiantion, process, tags)
7 Cap Adjustments -
8 Adjusted Cap: 32,025.00
9 Residual Factor: 0.57
10 Residual Value: 20,893.35
11 Term: 36.00
12 Base Rate: 0.00046
13 Interest: 24.34
14 Depreciation: 309.21 ((adjusted cap - residual)/term)
15 monthly Payment 333.55

Pretty close ... I'm getting $333.40/mo pre-tax.

Only way to get your payment lower is to negotiate a lower selling price.

usna

Hi, Can you please let me know if the dealership will always add the Acquisition Fee of $595 on lease option?

The Quote I received for Odyssey EX-L with Navi (Northern California) for 3 yr 36k miles is
$750 due at signing
then 35 months $402.49

This is on a vehicle with MSRP $38,605, Sale price $32,794 and Capped Fees 675. AdjustedCAPCost $33,469.
Lic Regular Upfront: $314
Upfront Fees: $37.75
Total Taxes : $1,150.56
Money Factor 0.00056

Is this a good deal? or is it possible to get better offers?

kyfdx

usna said:

Hi, Can you please let me know if the dealership will always add the Acquisition Fee of $595 on lease option?

The Quote I received for Odyssey EX-L with Navi (Northern California) for 3 yr 36k miles is
$750 due at signing
then 35 months $402.49

This is on a vehicle with MSRP $38,605, Sale price $32,794 and Capped Fees 675. AdjustedCAPCost $33,469.
Lic Regular Upfront: $314
Upfront Fees: $37.75
Total Taxes : $1,150.56
Money Factor 0.00056

Is this a good deal? or is it possible to get better offers?

I get $370/mo+tax, which looks to be right on the money.

All Honda leases have a $595 acquisition fee.

I don't follow Odyssey pricing... so, can't tell you if you can do better on the selling price, but that would be the only way to lower the payment, unless you go for the NON-Navigation model. Could probably cut the payment by $25-$30/mo, at least, that way.

usna

Thank you for your inputs.

meegwell01

Does it matter what fees get rolled into the lease? For the "Zero down" money rate, does zero down mean teh title tags processing and destinationa re rolled into the lease or does it mean no cap cost reduction? Do dealers care what is rolled in? What is typical, if anything? I was thinking I would pay tax/title tags at signing, everything else in the lease?

Michaell

meegwell01 said:

Does it matter what fees get rolled into the lease? For the "Zero down" money rate, does zero down mean teh title tags processing and destinationa re rolled into the lease or does it mean no cap cost reduction? Do dealers care what is rolled in? What is typical, if anything? I was thinking I would pay tax/title tags at signing, everything else in the lease?

The reduced MF assumes that all fees are added into the lease. Only taxes and license fees would be due at signing.

meegwell01

Michaell said:

meegwell01 said:

Michaell said:

meegwell01 said:

Hi all,

I've been email shopping with 4 dealerships for a 2015 EX-L w/o Nav or RES. I am in central VA (tax 4.05% I believe). What I am doing is negotiating on price, then I will select and go in to do a lease (is this plan ok?).

Can someone help out with what my lease payment should be on my best offer:

MSRP: $36,655
Dealer Price: $29,986
Accessories: $587 (roof rack and rails)
Tax: 4.05%
Mileage: 12k (also interested in 15k)
Term: 36 Month
Processing Fee: $499
Destiantion: $850
Title/Tags (~) $100
$0 Down

I am assuming .00046 MF and 57% residual ?

I am going to send a "give me your final and best" email then make a choice. I want to be confident of what the monthly payment should be before going in.


Thanks and let me know if any other info is needed.

If this is a true $0 down "sign and drive" then the .00046 MF applies; otherwise, it's .00056.

Yes, negotiate the best selling price and make sure they don't slip in any hidden fees. That will get you the best payment.

With your MSRP and Dealer Price, I get a pre-tax payment of $275.98/mo.

Thanks much. I guess I need to understand the calculation better. To make things easier I am assuming no tax for now (as you did with a "pre tax" number) here are my numbers from my spreadsheet, where am I going wrong?

1 MSRP 36,655.00
2 Sale Price 30,576.00
3 Tax Rate - 0
4 Tax Base 32,025.00
5 After Tax Price (gross cap) 32,025.00
6 Fees in Finance 1,449.00 (destiantion, process, tags)
7 Cap Adjustments -
8 Adjusted Cap: 32,025.00
9 Residual Factor: 0.57
10 Residual Value: 20,893.35
11 Term: 36.00
12 Base Rate: 0.00046
13 Interest: 24.34
14 Depreciation: 309.21 ((adjusted cap - residual)/term)
15 monthly Payment 333.55

Pretty close ... I'm getting $333.40/mo pre-tax.

Only way to get your payment lower is to negotiate a lower selling price.

Dealer in central VA just quoted me $600/month for the above lease. Is it unusual for them to be so bold?

Michaell

meegwell01 said:

Michaell said:

meegwell01 said:

Michaell said:

meegwell01 said:

Hi all,

I've been email shopping with 4 dealerships for a 2015 EX-L w/o Nav or RES. I am in central VA (tax 4.05% I believe). What I am doing is negotiating on price, then I will select and go in to do a lease (is this plan ok?).

Can someone help out with what my lease payment should be on my best offer:

MSRP: $36,655
Dealer Price: $29,986
Accessories: $587 (roof rack and rails)
Tax: 4.05%
Mileage: 12k (also interested in 15k)
Term: 36 Month
Processing Fee: $499
Destiantion: $850
Title/Tags (~) $100
$0 Down

I am assuming .00046 MF and 57% residual ?

I am going to send a "give me your final and best" email then make a choice. I want to be confident of what the monthly payment should be before going in.


Thanks and let me know if any other info is needed.

If this is a true $0 down "sign and drive" then the .00046 MF applies; otherwise, it's .00056.

Yes, negotiate the best selling price and make sure they don't slip in any hidden fees. That will get you the best payment.

With your MSRP and Dealer Price, I get a pre-tax payment of $275.98/mo.

Thanks much. I guess I need to understand the calculation better. To make things easier I am assuming no tax for now (as you did with a "pre tax" number) here are my numbers from my spreadsheet, where am I going wrong?

1 MSRP 36,655.00
2 Sale Price 30,576.00
3 Tax Rate - 0
4 Tax Base 32,025.00
5 After Tax Price (gross cap) 32,025.00
6 Fees in Finance 1,449.00 (destiantion, process, tags)
7 Cap Adjustments -
8 Adjusted Cap: 32,025.00
9 Residual Factor: 0.57
10 Residual Value: 20,893.35
11 Term: 36.00
12 Base Rate: 0.00046
13 Interest: 24.34
14 Depreciation: 309.21 ((adjusted cap - residual)/term)
15 monthly Payment 333.55

Pretty close ... I'm getting $333.40/mo pre-tax.

Only way to get your payment lower is to negotiate a lower selling price.

Dealer in central VA just quoted me $600/month for the above lease. Is it unusual for them to be so bold?

Last I checked, they were in the business to make money. It's your job to control just how much profit they earn.

meegwell01

Thanks I understand theya re in the business of making money. I am new to leaseing so I am here for help understading these things, and therefore wanted to know if starting off the negotiations that far apart was common. Thanks.

Michaell

meegwell01 said:

Thanks I understand theya re in the business of making money. I am new to leaseing so I am here for help understading these things, and therefore wanted to know if starting off the negotiations that far apart was common. Thanks.

Sorry, didn't mean to come off so harsh.

You offer what you think is a fair selling price, they counter, you (hopefully) agree somewhere in the middle.

They want to sell you a car; you want to buy (well, lease) a car. Work with multiple Honda dealers and go with the one that offers you the best price.

elcaporale

Hi I am starting to look to lease the same car you described. where did you get this quote? Which dealer give you this quote?

Thanks,

usna said:

Hi, Can you please let me know if the dealership will always add the Acquisition Fee of $595 on lease option?

The Quote I received for Odyssey EX-L with Navi (Northern California) for 3 yr 36k miles is
$750 due at signing
then 35 months $402.49

This is on a vehicle with MSRP $38,605, Sale price $32,794 and Capped Fees 675. AdjustedCAPCost $33,469.
Lic Regular Upfront: $314
Upfront Fees: $37.75
Total Taxes : $1,150.56
Money Factor 0.00056

Is this a good deal? or is it possible to get better offers?

elcaporale

Hi I am starting to look to lease the same car you described. where did you get this quote, which dealer?

Thanks,

kyfdx said:

usna said:

Hi, Can you please let me know if the dealership will always add the Acquisition Fee of $595 on lease option?

The Quote I received for Odyssey EX-L with Navi (Northern California) for 3 yr 36k miles is
$750 due at signing
then 35 months $402.49

This is on a vehicle with MSRP $38,605, Sale price $32,794 and Capped Fees 675. AdjustedCAPCost $33,469.
Lic Regular Upfront: $314
Upfront Fees: $37.75
Total Taxes : $1,150.56
Money Factor 0.00056

Is this a good deal? or is it possible to get better offers?

I get $370/mo+tax, which looks to be right on the money.

All Honda leases have a $595 acquisition fee.

I don't follow Odyssey pricing... so, can't tell you if you can do better on the selling price, but that would be the only way to lower the payment, unless you go for the NON-Navigation model. Could probably cut the payment by $25-$30/mo, at least, that way.

angiefl

Let me start with...I have never leased before. I don't even understand all the terminology yet. I'm supposed to return to Honda tomorrow to finish our deal. This is all the info I have:
2015 Honda Odyssey EX

Payments will be $338 with $0 down. 36 Months @ 12K
Selling Price: 35,560
Discount: 5,000
Adjusted Price: 30,560
Trade Allowance: 18,570
Trade Difference: 11,990.00
Doc Fee: 847
Tax: 66.43
State Fees: 848.50
Net Price: 13,751.93
Trade Payoff: 15,197.24
Balance: 28,949.17

Also, he told me the residual would be: $18,898

Does this sound like a good deal? Or is this where they start to tack on more stuff?

Thank you very much! I'm currently trying to read and learn all of this leasing terminology.

kyfdx

angiefl said:

Let me start with...I have never leased before. I don't even understand all the terminology yet. I'm supposed to return to Honda tomorrow to finish our deal. This is all the info I have:
2015 Honda Odyssey EX

Payments will be $338 with $0 down. 36 Months @ 12K
Selling Price: 35,560
Discount: 5,000
Adjusted Price: 30,560
Trade Allowance: 18,570
Trade Difference: 11,990.00
Doc Fee: 847
Tax: 66.43
State Fees: 848.50
Net Price: 13,751.93
Trade Payoff: 15,197.24
Balance: 28,949.17

Also, he told me the residual would be: $18,898

Does this sound like a good deal? Or is this where they start to tack on more stuff?

Thank you very much! I'm currently trying to read and learn all of this leasing terminology.

That's a pretty convoluted way of giving you the information... but, it looks like you have about $3300 trade equity in your current vehicle. ($18570 - $15197). So, it's not really $0 down.. if they are keeping the $3300.

Doc fee of $847? State fees of $848? Those sound really high. Is the acquisition fee included in one of those?

What state and tax rate? Does the payment include sales tax?

It doesn't look great from here.

barrybuckeye1

I have been shopping Odyssey and Sienna

Odyssey EX-L
MSRP $36,665
Price $31,035
Fees $699

Residual 56%
MF .00056

36 month 12,000/yr

$363.93/month includin 6% tax

Anyone doing better or have a suggestion?

SIENNA XLE 3 year is virtually the same monthly, but they have a 2 year with a 74% residual and MF .00005 that is $329 including 6% tax.

greenermjr

Hi -- all of the dealers I am talking to in NY are making available a 10,000 miles/yr lease. I don't drive that much so I am interested in this vs 12k.

Are the MF and Residuals available for 10k leases?

I am looking for a 2015 Honda Odyssey EX-L.

Mjr

Michaell

greenermjr said:

Hi -- all of the dealers I am talking to in NY are making available a 10,000 miles/yr lease. I don't drive that much so I am interested in this vs 12k.

Are the MF and Residuals available for 10k leases?

I am looking for a 2015 Honda Odyssey EX-L.

Mjr

58% for 36/10, though I don't seen anything from Honda Finance that supports this.

.00056 MF.

Confirm that the dealers you are talking to are using Honda Finance for their leases.

kyfdx

The NY/NJ area seems to be the only place in the country where Honda Finance offers 10K/yr leases. Don't see any documents to support that, but plenty of anecdotal evidence from our members in the forums.

greenermjr

kyfdx said:

The NY/NJ area seems to be the only place in the country where Honda Finance offers 10K/yr leases. Don't see any documents to support that, but plenty of anecdotal evidence from our members in the forums.

Thanks those are the numbers (residual and money factor) that I am also getting across the board, all Honda Finance 

I've got initial bids from 8 dealers on a 10k/36 month lease on a 2015 Odyssey EX-L. Going back to all of em tomorrow with the lowest bid to see if they want to beat it and get an extra feather in their month end cap. 

So far lowest offer from a NJ dealer is price of $31,286 plus tax 1,036.64 (by my calculation) - msrp of $36,655 and residual of $21,259.90. 

What should the lease payment be on that? 

kyfdx

greenermjr said:

kyfdx said:

The NY/NJ area seems to be the only place in the country where Honda Finance offers 10K/yr leases. Don't see any documents to support that, but plenty of anecdotal evidence from our members in the forums.

Thanks those are the numbers (residual and money factor) that I am also getting across the board, all Honda Finance 

I've got initial bids from 8 dealers on a 10k/36 month lease on a 2015 Odyssey EX-L. Going back to all of em tomorrow with the lowest bid to see if they want to beat it and get an extra feather in their month end cap. 

So far lowest offer from a NJ dealer is price of $31,286 plus tax 1,036.64 (by my calculation) - msrp of $36,655 and residual of $21,259.90. 

What should the lease payment be on that? 

With the tax rolled in, $337/mo.

greenermjr

I suspect there may be $800 destination to account for as well in the capitalized cost I forgot about that 

kyfdx

greenermjr said:

I suspect there may be $800 destination to account for as well in the capitalized cost I forgot about that 

Any selling price quote should include the destination fee...

Maybe a $595 acquisition fee? That would add $17/mo.

yhari

Carman or Moderator,

Can you please provide MF and residuals for Odyssey EX-L 36 mos?  I have seen a .00046 MF on a no money down lease on these boards - looking for confirmation please.

Thanks
YH

Michaell

yhari said:

Carman or Moderator,

Can you please provide MF and residuals for Odyssey EX-L 36 mos?  I have seen a .00046 MF on a no money down lease on these boards - looking for confirmation please.

Thanks
YH

36/15 - 55% and .00056 MF.

Yes, .00046 is available for $0 due at signing leases.

Good Deal or No Deal

Hi, I am in NJ, Need a new lease for my family. Shopping between Sienna or Odyssey


can you give update on new program that started today; May 12, 2015??

2015 Honda Odyssey EXL with Nav
2015 Honda Odyssey EXL

MF :: (still .00046 for $0 due leases?)
Residual 36k 3 year lease :: (55% still?)

Dealer cash:: $1500??

Michaell

Good Deal or No Deal said:

Hi, I am in NJ, Need a new lease for my family. Shopping between Sienna or Odyssey


can you give update on new program that started today; May 12, 2015??

2015 Honda Odyssey EXL with Nav
2015 Honda Odyssey EXL

MF :: (still .00046 for $0 due leases?)
Residual 36k 3 year lease :: (55% still?)

Dealer cash:: $1500??

We haven't yet seen the new Honda numbers; hopefully later today.

kyfdx

Good Deal or No Deal said:

Hi, I am in NJ, Need a new lease for my family. Shopping between Sienna or Odyssey


can you give update on new program that started today; May 12, 2015??

2015 Honda Odyssey EXL with Nav
2015 Honda Odyssey EXL

MF :: (still .00046 for $0 due leases?)
Residual 36k 3 year lease :: (55% still?)

Dealer cash:: $1500??

.00044 (.00034 for $0 due lease)
$1500 lease cash
56% residual on EX-L
54% on EX-L w/NAV

Good Deal or No Deal

Thank you

Awesome always!!

now im going to do some numbers and make a good deal with them!!! I will update as soon as i get a deal!

kyfdx said:

Good Deal or No Deal said:

Hi, I am in NJ, Need a new lease for my family. Shopping between Sienna or Odyssey


can you give update on new program that started today; May 12, 2015??

2015 Honda Odyssey EXL with Nav
2015 Honda Odyssey EXL

MF :: (still .00046 for $0 due leases?)
Residual 36k 3 year lease :: (55% still?)

Dealer cash:: $1500??

.00044 (.00034 for $0 due lease)
$1500 lease cash
56% residual on EX-L
54% on EX-L w/NAV

fpk13

Hello. I was wondering what the current MF and residual is for a 2015 Honda Odyssey Touring Elite. And if there are any current incentives in CA. Thank you.